NCL company making shared bills easier gets £150k!

A company set up by a group of Newcastle students to make shared bills easier to pay has secured £150,000 of investment from a team of venture capitalists.

Newcastle -based start-up One Utility Bill has received backing from Northstar Ventures, as well as several angel investors, and has now taken on four full-time members of staff.

One Utility Bill was co-founded by Newcastle University graduate Chris Dawson and Dale Knight, who joined the Ignite accelerator programme earlier this year.

The firm’s software is designed to help tenants, landlords and letting agents by sourcing utility providers and allowing bills to be paid as part of an all-inclusive cost with rent.

Rebecca Roberts, investment manager at Northstar Ventures, said: “Chris has taken his experience working in the utilities and lettings industry and used it to develop a service that has the potential to completely disrupt the process of paying bills in rented accommodation.

“The company has seen significant interest from letting agencies and landlords since it began trading, and the investment from the Finance for Business Proof of Concept Fund will help it continue to grow.”

Mr Dawson added: “We built the One Utility Bill platform to reduce the stress and confusion tenants often feel when paying bills in shared accommodation. By simplifying the process, we can reduce the risk of bad debt, as well as lowering the cost of customer acquisition for utilities providers.

“We’ve also found that it is often more convenient for landlords and letting agents to offer an ‘all-inclusive’ price for rented properties.”

One Utility Bill was advised by the corporate team at Watson Burton. Paul Wigham, associate and funding specialist at Watson Burton said: “I’ve known Chris and the team since they first joined the Ignite programme. It’s great to be able to support the progress of a forward-thinking company from its inception at university, through an accelerator programme and now a successful funding round.

“I’m sure that they will continue to enjoy success, and we look forward to working with One Utility Bill in the future.”

Jackie Wade, the Rise Up Business Adviser who mentored Mr Dawson through the Newcastle University Founderships programme, said: “Chris was great to work with and he had a clear vision from the start about what he wanted One Utility Bill to become. He’s made really good use of his network, tapping into expertise to support his business journey, whilst also forging ahead with his own ideas and creativity.

“He has shown the tenacity and ability to overcome some significant challenges and I’m delighted to see One Utility Bill secure this investment package.”